Canadian Solar Bearish Moving Average Crossover Alert (CSIQ)

Written on Mon, 03/20/2017 - 10:36am

By Nick Russo

Today, shares of Canadian Solar (NASDAQ:CSIQ) have fallen below their 10-day MA of $13.62 on a volume of 268K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Canadian Solar share prices have been bracketed by a low of $10.25 and a high of $40.08 and are now at $13.38, 31% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 1.7%.

SmarTrend recommended that subscribers consider buying shares of Canadian Solar on December 9th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $12.90. Since that recommendation, shares of Canadian Solar have risen 6.6%. We continue to monitor CSIQ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.